MGM101H5 Lecture 1: Lecture 1 - Introduction of Management in Functions
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MGM101H5 Full Course Notes
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Can see things from different points of views. Take control & show guidance and leadership. Managers are responsible for making decisions under conditions of uncertainty about the allocation of scarce resources towards achieving the organization"s strategic objectives. Have to make the best decision at that time within limitations. Car companies: they are all successful for different reasons luxury, international, brod range of products, different strategy. Understanding what the situation of the time is with the information that is limited to us. Management is a combination of art and science. Developing an effective strategy and making effective decisions. Managers have to be flexible, people skill, controlling, etc. Managers have a lot of different task they have to face. Planning & strategizing organizing leading & developing controlling. Everything managers do falls in the 4 stages. Managers have a specific skill, they have set of skills.
